3 Keys to Perservering as an Entrepreneur and Small Business Owner
“I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature.”
– John D. Rockefeller
Let’s face it – being successful in business is no easy task. According to the US Bureau of Labor Statistics, about 20% of small businesses fail in their first year. By the end of their fifth year, that number rises to around 50%. As I always tell my clients, “If it was easy, everyone would do it!” So, what sets those who are successful apart from those who aren’t? One of the keys to long term business success is perseverance. However, with all of the challenges that entrepreneurs and small business owners face, it’s not always easy to persevere. Here are my three keys to help you master this key entrepreneurial skill so that you can make sure you are successful:
Key #1 to Perseverance – Know Where You Are Going
The first key to perseverance is knowing where you are going! It’s much easier to keep moving forward when you know that there’s an end to your struggle. The key here is to have a very specific and measurable goal that you are shooting for. This will help you not only stay focused on what you are working towards, but when your goal is measurable, you can track your progress and know how much longer you have to persevere to get the result you are after.
Key #2 to Perseverance – Don’t Look Back
There is usually something to learn from when you fail. However, constantly looking back on the past and reliving past failures not only takes away from being present and focused, but also can get quite discouraging! While you do need to take a moment to discover what went wrong and learn from it, spending too much time on past mistakes and failures will reinforce your fears. By looking forward and keeping your eyes on your goal and where you’re going, you build positivity and momentum.
Key #3 to Perseverance – Don’t Go It Alone
It’s very challenging to persevere on your own! When you surround yourself with a solid team, high quality people, and perhaps even a business coach, your chances for success go up exponentially. A great team can provide support, accountability, and the additional insights and resources that you’re going to need when things get tough. A great coach can provide you with an outside objective opinion, as well as additional accountability and support. Rarely do entrepreneurs succeed all on their own, so make sure that you have great people around you to support your efforts. Also keep in mind that when you win the celebration is more fun when there are others there to celebrate with.
When you follow the three keys above, you’ll increase your chances of persevering through whatever challenges come your way.
Good luck on your journey!
Copyright © Tom Kelly, Potential In Motion, Inc.TM 2019